product creationhttp://blogs.forrester.com/taxonomy/term/694/all
enWhy Product Strategists Should Embrace Conjoint Analysishttp://blogs.forrester.com/jp_gownder/11-01-18-why_product_strategists_should_embrace_conjoint_analysis
<p>Aside from my work with product strategists, I'm also a quant geek. For much of my career, I've written surveys (to study both consumers and businesses) to delve deeply into demand-side behaviors, attitudes, and needs. For my first couple of years at Forrester, I actually spent 100% of my time helping clients with custom research projects that employed data and advanced analytics to help drive their business strategies.</p>
<p>These days, I use those quantitative research tools to help product strategists build winning product strategies. I have two favorite analytical approaches: my second favorite is <a href="http://www.forrester.com/rb/Research/updated_q3_2010_consumer_product_strategists_guide/q/id/57826/t/2">segmentation analysis</a>, which is an important tool for product strategists. But my very favorite tool for product strategists is conjoint analysis. If you, as a product strategist, don't currently use conjoint, I'd like you to spend some time learning about it.</p>
<p>Why? Because conjoint analysis should be in every product strategist's toolkit. Also known as feature tradeoff analysis or discrete choice, conjoint analysis can help you choose the right features for a product, determine which features will drive demand, and model pricing for the product in a very sophisticated way. It's the gold standard for price elasticity analysis, and it offers extremely actionable advice on product design. It helps address each of "<a href="http://en.wikipedia.org/wiki/Marketing_mix#Four_P.27s">the four Ps</a>" that inform product strategies.</p><a href="http://blogs.forrester.com/jp_gownder/11-01-18-why_product_strategists_should_embrace_conjoint_analysis" title="Read the rest of &#039;Why Product Strategists Should Embrace Conjoint Analysis&#039;." class="node_read_more">Read more</a><div class="categories"><h3>Categories:</h3><ul class="links"><li class="taxonomy_term_681 first"><a href="/category/consumer_product_strategy" rel="tag" alt="See other content with this tag." title="See other content with this tag.">Consumer Product Strategy</a></li>
<li class="taxonomy_term_565"><a href="/category/pricing" rel="tag" alt="See other content with this tag." title="See other content with this tag.">Pricing</a></li>
<li class="taxonomy_term_368"><a href="/category/product_design" rel="tag" alt="See other content with this tag." title="See other content with this tag.">Product design</a></li>
<li class="taxonomy_term_781"><a href="/category/product_development" rel="tag" alt="See other content with this tag." title="See other content with this tag.">Product development</a></li>
<li class="taxonomy_term_74"><a href="/category/product_strategy" rel="tag" alt="See other content with this tag." title="See other content with this tag.">Product strategy</a></li>
<li class="taxonomy_term_829"><a href="/category/conjoint" rel="tag" alt="See other content with this tag." title="See other content with this tag.">conjoint</a></li>
<li class="taxonomy_term_9456"><a href="/category/conjoint_analysis" rel="tag" alt="See other content with this tag." title="See other content with this tag.">conjoint analysis</a></li>
<li class="taxonomy_term_9457"><a href="/category/feature_tradeoff_analysis" rel="tag" alt="See other content with this tag." title="See other content with this tag.">feature tradeoff analysis</a></li>
<li class="taxonomy_term_694 last"><a href="/category/product_creation" rel="tag" alt="See other content with this tag." title="See other content with this tag.">product creation</a></li>
</ul></div>http://blogs.forrester.com/jp_gownder/11-01-18-why_product_strategists_should_embrace_conjoint_analysis#commentsConsumer Product StrategyIT InfrastructurePricingProduct designProduct developmentProduct strategyconjointconjoint analysisfeature tradeoff analysisproduct creationTue, 18 Jan 2011 15:58:02 +0000JP Gownder5636 at http://blogs.forrester.com